KFEB vs. SBIT

Last updated Jul 14, 2026

KFEB (Innovator U.S. Small Cap Power Buffer ETF - February) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - KFEB is a Defined Outcome fund actively managed by Innovator, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). KFEB is actively managed, while SBIT is passively managed. Over the past year, KFEB returned 22.21% vs 124.12% for SBIT. At a correlation of -0.48, they often move in opposite directions. KFEB charges 0.79%/yr vs 0.95%/yr for SBIT.

Performance

KFEB vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Small Cap Power Buffer ETF - February (KFEB) and Proshares Ultrashort Bitcoin ETF (SBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KFEB achieves a 13.34% return, which is significantly lower than SBIT's 44.00% return.

KFEB

• 1D: -0.32%
• 1M: 0.85%
• 6M: 7.72%
• YTD: 13.34%
• 1Y: 22.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIT

• 1D: 5.38%
• 1M: 1.44%
• 6M: 58.27%
• YTD: 44.00%
• 1Y: 124.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

KFEB vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025
KFEB Innovator U.S. Small Cap Power Buffer ETF - February	13.34%	9.19%
SBIT Proshares Ultrashort Bitcoin ETF	44.00%	-7.39%

Correlation

The correlation between KFEB and SBIT is -0.51, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.51
Correlation (All Time) Calculated using the full available price history since Feb 3, 2025	-0.48

The correlation between KFEB and SBIT has been stable across timeframes, ranging from -0.51 to -0.48 - a consistent structural relationship.

Return for Risk

KFEB vs. SBIT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

KFEB

KFEB Risk / Return Rank: 83
KFEB Sharpe Ratio Rank: 81
KFEB Sortino Ratio Rank: 84
KFEB Omega Ratio Rank: 77
KFEB Calmar Ratio Rank: 86
KFEB Martin Ratio Rank: 86

SBIT

SBIT Risk / Return Rank: 52
SBIT Sharpe Ratio Rank: 51
SBIT Sortino Ratio Rank: 52
SBIT Omega Ratio Rank: 48
SBIT Calmar Ratio Rank: 66
SBIT Martin Ratio Rank: 45

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

KFEB vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Small Cap Power Buffer ETF - February (KFEB) and Proshares Ultrashort Bitcoin ETF (SBIT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	KFEB	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	2.05	1.41	+0.63
Sortino ratio: Return per unit of downside risk	2.99	2.05	+0.94
Omega ratio: Gain probability vs. loss probability	1.36	1.25	+0.11
Calmar ratio: Return relative to maximum drawdown	3.85	2.60	+1.24
Martin ratio: Return relative to average drawdown	14.04	5.92	+8.12

KFEB vs. SBIT - Sharpe Ratio Comparison

The current KFEB Sharpe Ratio is 2.05, which is higher than the SBIT Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of KFEB and SBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

KFEB vs. SBIT - Drawdown Comparison

The maximum KFEB drawdown since its inception was -14.16%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for KFEB and SBIT.

Drawdown Indicators

	KFEB	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-14.16%	-91.35%	+77.19%
Max Drawdown (1Y) Largest decline over 1 year	-5.80%	-47.94%	+42.14%
Current Drawdown Current decline from peak	-0.64%	-77.15%	+76.51%
Average Drawdown Average peak-to-trough decline	-2.18%	-68.83%	+66.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.59%	21.04%	-19.45%

Volatility

KFEB vs. SBIT - Volatility Comparison

The current volatility for Innovator U.S. Small Cap Power Buffer ETF - February (KFEB) is 1.93%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 22.98%. This indicates that KFEB experiences smaller price fluctuations and is considered to be less risky than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KFEB	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.93%	22.98%	-21.05%
Volatility (6M) Calculated over the trailing 6-month period	7.36%	68.89%	-61.53%
Volatility (1Y) Calculated over the trailing 1-year period	10.92%	88.51%	-77.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.95%	96.89%	-83.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.95%	96.89%	-83.94%

KFEB vs. SBIT - Expense Ratio Comparison

KFEB has a 0.79% expense ratio, which is lower than SBIT's 0.95% expense ratio.

Dividends

KFEB vs. SBIT - Dividend Comparison

KFEB has not paid dividends to shareholders, while SBIT's dividend yield for the trailing twelve months is around 3.97%.

Position	TTM	2025	2024
KFEB Innovator U.S. Small Cap Power Buffer ETF - February	0.00%	0.00%	0.00%
SBIT Proshares Ultrashort Bitcoin ETF	3.97%	0.52%	1.00%

Frequently Asked Questions

Can I hold both KFEB and SBIT in my portfolio?

KFEB and SBIT have a correlation of -0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KFEB or SBIT?

SBIT has higher volatility (22.98%) compared to KFEB (1.93%). In terms of maximum drawdown, KFEB dropped -14.16% vs SBIT's -91.35%.

Which ETF is better, KFEB or SBIT?

On 1-year performance, SBIT leads with 124.12% vs 22.21% for KFEB. On fees, KFEB is cheaper at 0.79% per year. On volatility, KFEB has been the lower-risk option at 1.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KFEB or SBIT?

Over the 1-year period, SBIT has performed better with a 124.12% return vs 22.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KFEB or SBIT?

KFEB is cheaper with a 0.79% expense ratio, compared with 0.95% for SBIT.

Which ETF pays a higher dividend yield, KFEB or SBIT?

SBIT has the higher dividend yield at 3.97%, compared with 0.00% for KFEB.

What is the main difference between KFEB and SBIT?

KFEB is categorized as Defined Outcome, while SBIT is Cryptocurrency. They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.79% for KFEB and 0.95% for SBIT.

Which has better risk-adjusted returns?

KFEB currently has the higher Sharpe Ratio (2.05 vs 1.41), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.